5 Tips for Breaking the Payday Loan Cycle

This story originally appeared on The Penny Hoarder. A payday loan can offer a quick reprieve from unexpected expenses or a spell of tough luck. But if you don’t have enough money to pay back the loan on your next payday, you may need to take out another loan — or roll your balance into a new loan with interest rates that can be well over 300%. According to the Consumer Financial Protection Bureau…

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